Launched in 2014 as a fork of Litecoin, Reddcoin (RCD) is a decentralized cryptocurrency used to tip or send payments for social content. The Reddcoin API supports social platforms such as Reddit, Twitter, and Twitch. Accounts created on the Reddcoin wallet can be linked to Twitter, Twitch, and Reddit accounts. Upon downloading the ReddID browser extension, users can “like” content by entering the username and sending a micropayment. RDD is mined by the ReddID wallet through Proof-of-Stake-Velocity (PoSV), which incentivizes both ownership (stake) and activity (velocity).
Best 5 Wallet For Storing Reddcoin
1. ReddCoin Social Wallet
It is a Reddcoin online wallet that integrates new and innovative social features into the reference Reddcoin-Qt wallet, including Reddit and Twitter feeds and IRC chat. On the lefthand side of the social wallet, you can see many tabs with information and tools. The dashboard tells you your confirmed balance, the price of BTC/USD, RDD/BTC, RDD/LTC, and the approximate value of your Reddcoin in USD. The best part is that you also have the option to import/export a private key.
Link: ReddCoin Social Wallet
2. ReddCoin Mobile Wallet
There is no registration needed and sending and receiving of Reddcoin is done via NFC, QR-codes or Reddcoin URLs.This is mainly for Android and IOS users. This ReddCoin Wallet app selects the right fee for you automatically, so the transactions won’t get stuck. Additional fees are required if you send amounts smaller than 1 RDD. This is a small attempt to fight “Spam”-Transactions that would otherwise hurt the network. This is considered as one of the best ReddCoin wallets for Android.ReddCoin wallet ios version is going to be officially released very soon.
Link: ReddCoin Mobile Wallet
3. ReddCoin Core Wallet
Reddcoin Core Wallet(also known as Reddcoin-Qt-reference implementation of the Reddcoin protocol) is considered a “full wallet”, which means that it downloads and stores the entire Reddcoin blockchain. Reddcoin-Qt is built on the Reddcoin wallet daemon, and provides a nice GUI for easy use by the average Reddheads. In the wallet, you could find all your addresses to receive coins under the receive tab. You can also send coins from the send tab and see every transaction in and out under the transactions tabs. You can even save addresses you commonly send to under the Addresses tab.
Link: Reddcoin core wallet
4. ReddCoin Paper Wallet
An RDD paper wallet is considered an extremely secure way to keep ReddCoins safe from cyber-attacks, malware, etc. A paper wallet involves “printing” and storing RDD in an offline mode. The data appearing on the wallet includes things like the public key (wallet address), that allows people to transfer money into the wallet, and the private key, which gives access to the fund expenditure. Hence, it is important for the users to know how to use ReddCoin wallet in this medium.
Link: Reddcoin Paper Wallet
5. Reddcoin Electrum Wallet (Desktop)
This desktop wallet is available for Windows, Linux, and Mac OS X. Reddcoin Electrum mobile wallets are being actively developed and they offer many significant benefits over traditional full-chain wallets, which makes people choose this wallet over others.
Tips for securely storing your Reddcoin
- Do your own research. Before sending any coins or private data to a wallet, make sure you have researched the wallet provider to make sure everything is above board. Keep an eye out for scam wallets, such as those using URLs only slightly different to the URLs of legitimate wallet providers, and check out some independent reviews for all the pros and cons.
- Back it up. Make use of your wallet’s back-up and restore facility so that if something ever goes wrong with your wallet, you’ll be able to recover your funds.
- Set a strong password. Now is not the time to be lazy when creating a password; take your time to create a strong and uncrackable code.
- Make use of all available security features. Make the most of all the security features your wallet offers, such as two-factor authentication or multi-signature transactions. It’ll offer increased protection for your funds and greater peace of mind for you.
- Update your antivirus software. Take care to regularly update the antivirus protection and anti-malware software on any device you will be using to access your wallet.
- Keep your private keys private. Last but not least, don’t underestimate the importance of your private keys. Store them somewhere safe and don’t share them with anyone else.